Get notifications in real-time for staying up to date with content that matters to you.
Non-conforming lender Bluestone successfully priced a A$408.9 million RMBS through lead arrangers Barcap and Westpac on Friday.
The Sapphire XI Series 2007-2 Trust included 1,344 non-conforming loans that have been seasoned for 11.98 months. The LTV was 75.49 per cent, with self-certified borrowers making up 71.4 per cent of the portfolio.
The tranches included: $204.4 million priced at 108bp over BBSW; $81.7 million at 165bp over BBSW; $58.3 million at 200bp over BBSW; $13.6 million at 265bp over BBSW; $14.6 million at 350bp over BBSW; $10.9 million at 450bp over BBSW; and $5.4 million at 650bp over BBSW. Pricing for two tranches were not disclosed.
Bluestone’s news comes hot on the heels of Pepper Homeloans' A$200 million non-conforming RMBS issue last month – the first non-conforming residential mortgage transaction in Australia since March 2007 and the first in either Australia or Europe since the August US sub-prime crisis.
Bluestone is believed to plan to return to market again in the second quarter of 2008.
If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.
The lender for self-employed borrowers has appointed two BDMs in ...
The non-major bank has said that it will accept e-signatures on p...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
What's the longest time you've been left on hold before getting through to a credit assessor?
